Silver, Gold close softer on bearish global advice

Mumbai, Aug 30 (UNI) Both the precious metals eased modestly today with Silver down by Rs five per kg and Gold by Rs 5 per ten gm on lack of fresh interest by local dealers in view of bearish global advice, traders at the Bombay Bullion Exchange said.

Silver (fineness) .999 opened lower at Rs 16,845 per kg on thin industrial users demand. Later, it further eased and closed negative at Rs 16,855 per kg with a small loss of Rs five from its previous close.

In London, New York and Asian countries, the white metal was down slightly at 11.82/11.85 per pence compared to its last close of Rs 11.92/11.96.

Similarly, standard gold (99.5) and pure gold (99.9) also opened lower at Rs 8,885 and Rs 8,930 per ten gm respectively in the absence of fresh buying support by local dealers .

Later, pure gold closed lower at Rs 8,940 per ten gm with a modest loss of Rs five from it last close.

However, standard mint gold closed flat at Rs 8895 per ten gm.

There was lack of fresh buying support from ornament makers in view of subdued advice from global marekts.

In the overseas markets, the yellow metal was slightly lower at 664.25/665.50 per troy ounce against 668/672 per troy ounce on the previous day, traders added.

Following are the spot silver and gold closing prices: Silver (per kg) .999 grade : Rs 16,855 (16,860) Gold (per 10 gm): Standard mint 99.5 purity : Rs 8,895 (8,895) Pure gold 99.9 purity : Rs 8,940 (8,945) UNI